The Benefits of Hanging in Your Hood

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The grass is always greener on the other side, or so they say. And while that very well may be true with some things, it’s certainly not when it comes to your neighborhood. There are a scores of reasons why hanging out in your own hood can be incredibly beneficial to you. However, most people still tend to herd towards the flavor of the month and congregate at the current hot spot. And as a return for their patronage, they often times get slapped with high bar tabs, long treks home (while drunk), or expensive cab rides. But we say “Forget the Fad, Keep it local!”, and this is why:

1. You’ll spend less money.

If you live in a borough, the prices you pay for things like coffee, beer, and food are far less pricey than their counterparts in Manhattan. Take for instance the small coffee that’s $0.75 at my local neighborhood deli as opposed to the $1.25 price tag on a small coffee at the deli by my office. Or even more importantly, commuting home if you’re in no sound mind to take mass transit.  A cab ride 20 miles can easily cost $30, while you could take a local car service (likely costing about a third of that) or walk if you’re already in your neighborhood.

2. You’re supporting local — and usually small — businesses.

Starting a small business is no easy feat. And keeping the momentum going for the next few fate-deciding years isn’t either. With less than half of NYC based small businesses staying open after four years, it’s nice to throw some support under the little guy. Small businesses employ about half of the country’s workers and make up about 99.7% of all U.S. based employer firms.

3. Little or no commute

You can’t put a price on time. And having an extra hour to spend in solitude, or an extra hour hanging out with a friend beats the hell out of an hour commuting. In addition, you’re also making the best of your time spent.  The less time you spend in transit, the more time you’re spending doing things that are of more value to you. Traveling back and forth from work steals enough precious minutes out of the day, and nothing takes the excitement out of a quick meet up like a long, painful hike to get there.

4. Meet neighbors and build a sense of community

Having a network of friends and acquaintances nearby is a great resource. We’ve all had those mornings where you just wanted to meet someone for a leisurely coffee, or have a late last-minute drink without too much planning. Or maybe you just need help changing a light bulb.  Either way, knowing there’s a willing soul or a helping hand right around the block just makes life that less complicated.  Not to mention, it creates a safety network where each person can look after one another.

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First Friday at The Bronx Museum of the Arts

If you’re looking for something fun, free and cultural this weekend, head uptown to 165th Street for The Bronx Museum of the Arts’ First Friday event starting at 6pm.  This month will feature Street Dance NYC:  The Hitters!, music group RPM, and a screening of the trailer for “All the Ladies Say”.

If you’ve never taken advantage of a First Friday or a First Saturday event at one of the NYC based museums (the Brooklyn Museum does it also), you’ve been missing out on a huge opportunity.  While regularly featuring free admission to the museum, musical entertainment, films, speakers, and food and drink, it’s one of the best ways to spend a cash-free evening in the city.

From the invite:

Family Affair
FRIDAY, JANUARY 9, 2009, 6:00 to 10:00pm
South Building-Lower Gallery
Admission: Free

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This First Friday’s program, hosted by husband and wife dance pioneers Rokafella and Kwikstep of Full circle Prod Inc., will feature a distinguished panel of original Hip Hop dance crews who will discuss the format and growth of street shows, as well as shed light on their struggle to establish this uniquely American art form. The discussion will be followed by a screening of the trailer for “All the Ladies Say,” a film about national and international female break dancers, and a performance by the band RPM.

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Panelist include: The Executioners, NYC Float Committee, TheTransformers, The Breeze Team and United Street Artists.

They also have an exhibit that sounds really interesting called “Street Art.  Street Life.  From the 1950’s Til Now” which is running until January 25, 2009.

THE BRONX MUSEUM OF THE ARTS
1040 Grand Concourse
at 165th Street
Bronx, New York 10456

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Monthly Mashup - December Edition

December brought with it cold, bitter weather, lots of face time with families and, which you may have noticed, a distinct lack of posting. And for that, dear readers, we sincerely apologize. But not being ones to focus on the past, 2009 is here with a bang! And with this new year comes a whole truckload of ideas that our staff is working to implement for your guys. This means an increase in Interviews, How-To’s, Personal Stories, and Weekly Listings of cheap events in and around NYC. So keep on reading for our Editors pick of the December blogosphere as we bid adieu to 2008 and welcome the new year with open arms and heightened anticipation.

On a side note, if there are any changes or ideas that you’d like to see implemented on the site, we’d love to hear them. Leave us a comment in the comments section or send an email to lauren@lifestylermag.com.

44 Ideas for Realistic 2009 Goals - The geniuses over at Master Your Card had some really interesting ideas for realistic and personal growth goals for the upcoming year. I even snagged 10 of his goals for my own. **As a side note, also check out his article on Credit Card Stoozing. I’ve added this to my own goals for 2009, but I’d like to hear from any of you guys if you’ve done this and what your experiences have been. I’m intrigued!

Kathryn Finney (The Budget Fashionista) on Affordable Dress for the Office - There’s nothing more annoying than getting a great new job that pays a serious adult salary, than having to fork over half of it towards blazers and business suits — especially if you’re a jeans and t-shirt kind of person. We picked the brain of veteran budget shopper, Kathryn Finney - genius behind The Budget Fashionista - for some tips on looking sharp at the office for less.

Recessions, Depressions, and How They’ll Affect You - Young Money takes a deeper look at what the differences are between a recession and a depression and just how they’ll affect you.

Five Fabulous Free Finds - Erin Gifford over at Wallet Pop gives us the lowdown on five freebies to take advantage of — including antibiotics and bowling passes!

Charity Gifts — Not Just for the Holiday Season - We came up with 20 ways to tie in philanthrophy with gift-giving, but philanthrophy needs no holiday! Keep the momentum going by donating money, resources or time to whichever organization catches your eye. Here are 20 nonprofits that we like to get you started.

13 Ways to Stretch Your Money - Bill Pratt at Young Money gives you tips on how to stretch your dollar in the new year. Most of the ideas you’ve probably heard a million times before, but he does offer some good ideas on how to save electricity at night and how to implement the 24-hour rule to making snap purchases.

How Much is Your Brain Worth? - Sometimes you just need a few extra dollars in your pocket, and aside from picking up a part-time gig, there aren’t a ton of ways to get it. We give you the lowdown on participating in focus groups, which can be a great way to have a part-time gig on retainer. Use ‘em when you need ‘em, ignore ‘em when you don’t.

The Spending Diaries - New York Magazine chronicles how five New Yorkers in varying income brackets spend a week’s worth of their cash. This is an older article (published in October of ‘06), and as such has probably made it’s ample round on the internets, but I still thought it was interesting — although a bit unrealistic at times. (Their low-end income bracket example is a literary grad student who lives in an $1,800 a month West Village apartment subsidized by his parents, who also foot the bill for his Equinox gym membership and tuition.)

5 Gadgets Worth Waiting for in 2009 - Smart Money has a list of 5 Gadgets that will be priced to sell after this year’s Consumer Electronics Show this month in Vegas. After featuring the latest and the greatest in new tech products, stores will be pushing the slightly older models off the shelves to make way for the abundance of shiny new tech toys. If you’re in the market for a computer, cell phone, or a TV, this is probably your best chance to buy.

Pulling in the Reins: 5 Tips to Curb your Spending - Getting out of the spending mindset can be a difficult task to undertake — especially after the holidays. We offer 5 tips to curb your spending habits and make sure the things you purchase are on a necessary and not wanting basis.

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Last-Minute NYE Plans!

Vox Pop, a favorite Brooklyn coffee shop/bar/printing press, is hosting a NYE party for those of you who loathe cover charges and annoying idiots in sparkly party glasses.

From the Invite:

The big “Wash away the rotten awful filth that was 2008″ night at Vox Pop.

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No cover charge. Lots of live music.

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Hosted by Punxsutawney Jesus. Live music by Billy Ringo, Fleza Doza, the Punxster himself, and other special guests. Champagne, drink specials, and the vibe that only Vox Pop can offer.

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PLUS! Special performance by Vox Pop’s own Sander Hicks, tickling the ivories as the Casio Bastard.

This is sure to be a fun, relaxed event, considering that Vox usually houses a super nice, laid-back crowd of local Brooklynites.  They’re also bound to have some excellent beer specials, and, the most important reason of all,  Sander Hicks will be rocking out on the keyboard.  And if your ears have never heard the wailing cries for democracy that croon out from the lovely owner’s lips, you truly have not lived.  So come on out tonight, and start 2009 out with a bang and not a whole lot of bucks.

Vox Pop
1022 Cortelyou Road
between Stratford and Coney Island Avenue
718 940 2084
8:00pm - 1:30am

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How To Spend That Holiday Bonus - Responsibly.

If you were lucky enough to have a job this holiday season, and even luckier to get a holiday bonus from the boss, then pat yourself on the back. Since funds are few and far between these days, that holiday bonus is even more precious. And precious things should be spent well — or shall we say invested well. We know it’s hard to not spend that cash, but hold out for another week or so when most of the shopping mania calms and the urge to spend dies down. And in the spirit of saving cash and building wealth, we’ve thrown together a few ideas on where to go and what to do to get the most out of your bonus this year.

1. Open or Fund a Roth IRA

If you haven’t opened one yet, this is your year! It’s never too early to start planning for your retirement. And if you think that your company pension is going to offer you a warm retirement, chew on this for a minute: a 25 year old currently making an annual salary of $40,000 a year would need to save approximately $600,000 by the age of 65 to effectively battle inflation and live on 75% of their ending salary (assuming they received living wage raises each year). Keep in mind that the majority of pension payment lump sums are in the $100,000 range, meaning that most people only save that much throughout their entire career, and social security payments are barely a drop in the bucket. Never underestimate the crippling power of inflation and economic instability. Supplement your future income by chucking away even a hundred dollars a month into a Roth IRA, and your future self will thank you.

2. Open a Vanguard Stock Account

I will be the first person to tell you that now is the time to Buy, Buy, Buy! Stocks are cheap, the market will rise again, and the people who take advantage of opportunities now will be in better financial shape ten years down the road because of it. Don’t believe me? Follow Warren Buffet’s lead. He’s been buying up stocks like they’re on the 50% off aisle at Wal-Mart. I’ve been putting more money into my stock account, and am planning to invest in another fund this year. And since I’m a big Vanguard fan, here are my three favorite funds managed by them: 500 Index Fund, Extended Market Index Fund, and the Total International Stock Index.

3. Debt Repay

Nothing says “Hello 2009″ like a clean financial slate. Throwing a lump sum at a mountain of student loan debt can be a big motivator to getting that balance paid off. Plus, knocking down a balance can drastically reduce your monthly payments, although I prefer the snowballing method rather than lowering your minimum payments to hasten the repayment process. There are few feelings that trump being free of debt, and the extra disposable income you’ll see each month after finishing off that last bill will feel like sweet victory.

4. Invest in Yourself with a Networking Vacation

I’ve decided to sock away some cash to go towards Networking Vacations. This is not your typical vacation, but attending industry conventions and networking events to further promote my freelance career. After a quick Google search for industry networking events across the country, I realized that there is a convention for absolutely everything. So far for 2009, I’ve planned three small trips and I’m treating them as personal investments in my budget. To save funds, I’ve set up a recurring savings transfer to a high yield checking account with a savings goal (this means once I reach my target amount, the money transfers will automatically stop). And since I’m planning pretty early (almost a year in advance for two of them), I’ll be able to get super cheap airline flights and good hotel rates.

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